INTRODUCTION TO MANAGEMENT ACCOUNTING Contents Solution 1: 3 Solution 2: 5 Solution 3: 7 Solution 4: 10 Solution 5: 12 Bibliography 14 Solution 1: Statement of Cost- Traditional Approach Particulars Basic Model Advance Model Units produced and sold 1,600 1,500 Direct Material cost per unit 325 560 Direct Labour cost per unit 150 260 Total Material Cost (1600*325)+(1500*560) 5,20,000 8,40,000 Total Labour cost (1600*150)+(1500*260) 2,40,000 3,90,000 Total